What is Project Management Software?
Project management software streamlines project planning, task allocation, and team organization, offering real-time status updates for quick decision-making and project control for any business size or team. The best project management software solutions also help managers understand how much time each person or team spends working on various projects to improve efficiency at an organizational level.
Project management software is closely related to task management software but differs in scale and scope. For users and businesses looking to manage a large number of projects with similar characteristics, PPM software will be the most productive.Common features include project planning, resource allocation, budget creation, premade templates, progress monitoring, and user productivity tracking.
To qualify for inclusion in the Project Management software category, a product must:
Create project plans and work breakdown structure (WBS) based on the scope
Define, manage, and allocate resources based on demand and availability
Create project budgets and compare them with actual costs and expenses
Support multiple project management methodologies such as waterfall and agile
Provide project templates that can be modified or combined to create new projects
Manage interdependencies between tasks and their impact on deadlines
Automatically generate a critical path and update it when the project changes
Allow users to mass update tasks without changing interdependencies
Include multiple project views such as calendar view or customer (or partner) view
Monitor project progress, resource utilization, and user productivity